Parker-Hannifin Co. (NYSE:PH) Position Boosted by Austin Private Wealth LLC

Austin Private Wealth LLC raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 5.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 806 shares of the industrial products company’s stock after purchasing an additional 43 shares during the quarter. Austin Private Wealth LLC’s holdings in Parker-Hannifin were worth $513,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PH. State Street Corp lifted its holdings in Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. Wellington Management Group LLP lifted its position in Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Parker-Hannifin by 64,081.5% during the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after purchasing an additional 381,285 shares during the period. World Investment Advisors LLC bought a new position in Parker-Hannifin in the 3rd quarter worth about $226,570,000. Finally, Mizuho Securities USA LLC increased its stake in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after purchasing an additional 353,393 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of several research reports. TD Cowen boosted their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research note on Thursday, December 12th. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company increased their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Stifel Nicolaus lifted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $725.06.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,200 shares of company stock worth $8,595,207 in the last 90 days. 0.39% of the stock is owned by insiders.

Parker-Hannifin Trading Up 0.6 %

Parker-Hannifin stock opened at $707.91 on Friday. Parker-Hannifin Co. has a 12 month low of $463.16 and a 12 month high of $718.44. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $91.12 billion, a P/E ratio of 31.97, a P/E/G ratio of 2.73 and a beta of 1.45. The company’s fifty day simple moving average is $666.82 and its 200-day simple moving average is $628.47.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is 29.45%.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.